30 Million XRP Mystery Stuns Major Korean Exchange Upbit
Recent reports from Whale Alert revealed that a staggering 30 million XRP, worth approximately $17.4 million, was transferred from the well-known Korean exchange Upbit to an unknown wallet. This significant movement occurred from the Upbit wallet "rDxJNb" to the recipient wallet "r4186," which was activated only in June with a mere 11 XRP.
After receiving this massive amount, the wallet began distributing the XRP to various unknown addresses, leaving just 1.169 million XRP behind.
Notably, XRP has seen a surge in trading activity recently, ranking as the sixth most traded asset on Upbit, with over $106.6 million in trading volume against KRW in the past dayâalmost double that of Bitcoin.
Withdrawals from exchanges like this are typically viewed as bullish, suggesting that major players are moving assets into cold storage, potentially signaling confidence in future price movements. Additionally, this uptick in trading volume may indicate growing interest from retail investors, which could further enhance market liquidity and drive prices higher.
